Portugal Golden Visa
Portugal Golden visa, or in other words, Investment visa for Portugal, is the most popular Golden Visa program in Europe. It is incredibly flexible and allows investors to maintain residency by only staying in Portugal for 7 days per year (or 14 days in a block of 2 years) during the initial 5 years, beyond which the residency can successfully culminate into PR in Portugal or Portuguese citizenship.
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Portugal citizenship by investment program is in fact a 5-year residency-by-investment program, where investors and their dependents can become Portuguese citizens at the end of 5 years. It remains at the discretion of the investor to obtain permanent residency in Portugal or citizenship of Portugal, after the completion of 5 years.
Investors have to maintain their investment for 5 years. They are allowed to live and work in Portugal during the residency, as well as travel visa free in the EU Schengen area. Portugal is a full-member of the EU. Upon becoming a Portuguese citizen, investor can live and work in any EU member state.
All third country citizens who conduct an investment activity, as an individual business person or through a company set up in Portugal, provided that these citizens fulfil the quantitative requirements and the time requirements set out by the relevant legislation, may apply for a Residence Permit for Investment, by one of the following categories:
- Capital transfer of at least EUR 500,000 (as per new rules in effect from 1 Jan 2022) for investment or acquisition of units in eligible investment funds or venture capital fund of funds dedicated to the capitalisation of companies, capital injected under the Portuguese legislation, whose maturity, at the moment of the investment, is, at least, of five years and, at least, 60% of the investments is realized in commercial companies with head office in national territory.
- Purchase of real estate property with a value equal to or exceeding EUR 500,000 (EUR 400,000 if the property is located in a low-density area)
- Purchase of real estate property built over 30 years ago or located in urban regeneration areas, for refurbishing, for a total value equal to or exceeding EUR 350,000 (including the cost of renovations).
- Purchase of real estate property built over 30 years ago and located in a low-density area, for refurbishing, for a total value equal to or exceeding EUR 280,000 (including the cost of renovations).
- Capital transfer of a minimum 1.5 million Euros (from 1 Jan 2022) into a Portuguese bank account.
- Business venture – Creation of at least 10 job positions
From 1 Jan 2022, new Golden Visa rules will be applicable for acquisition of real estate properties where the minimum investment amounts remain the same, but there will be restrictions on qualifying locations. For instance, residential properties in popular coastal destinations of Lisbon and Porto will no longer be eligible investments under the Golden Visa program. If you are keen on buying a property in these locations as part of your Golden Visa plan, click here to read our blog, on how this is still possible. Get in touch with us to discuss potential investment opportunities.
Requirements of the Golden Visa Program
- Qualifying investment to be held for at least 5 years
- Obtain Portuguese tax number (NIF) and open Portuguese bank account
- Provide KYC documents and proof of funds.
- No criminal records or police clearance certificate for all adult applicants
- All applicants under the program to stay at least 7 days per year (or 14 days in a block of 2 years) during the initial 5 years
- At end of 5 years, Investor has the option to obtain permanent residency or citizenship
- Language test (A2 level proficiency – beginner level) is necessary to obtain citizenship, not required for temporary residence. There are exemptions to this requirement.
Benefits of the Portugal Golden Visa Program
- Right to live, work and study in Portugal. Visa-free travel within EU Schengen area
- Citizenship after 5 years. As a Portuguese citizen, eligibility to live, work and study in the Schengen area plus visa free travel to 170+ countries.
- Portugal permits dual citizenship
- Favorable tax regime as a non-habitual resident.
- High quality of life, stable democratic country and low crime rate
- Universal health coverage through National Health Service